Beasley Arranges New Credit Facilities

New Credit Facilities

BEASLEY BROADCAST GROUP's BEASLEY MEZZANINE HOLDINGS, LLC subsidiary has inked two new credit agreements through GE CAPITAL, a $110 million first lien facility ($20 million revolving, $90 million term loan) and a $25.million (term loan) second lien facility, with proceeds primarily used to repay the old credit facility.

The moves, reported in a Form 8-K at the SEC, have the company expecting a $2.8 million loss on extinguishment of long-term debt for third quarter 2012.

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